Fairfax moves to unwind margin loan
THE Fairfax Media director John B. Fairfax has unwound a margin loan over 159 million of the publisher's shares, which was believed to have prompted short-sellers to target the stock over recent weeks.
Rio Tinto spins iron ore deal into bid defense (Reuters)
Reuters - Shares in global miner Rio Tinto gained over 1 percent on Tuesday after it won a huge price rise for iron ore shipped to China, giving it a chance to trumpet its defense against a $163 billion takeover bid.
Orica to demerge consumer products
Orica Ltd plans to demerge its consumer products business into a separate company and raise up to $900 million through an entitlement offer.
Babcock plunges further
Babcock & Brown, Australia's second-largest investment bank, plunged further, falling almost a third in early trading.
BHP Billiton's bid for Rio Tinto...
The European Union has begun a full investigation into BHP Billiton's proposed
$170billion ($£85.8billion)takeover of Rio Tinto, its rival.
GPT cuts income guidance to $464m
GPT Group cut its guidance for full-year operating income to $464m from $633m due to the deterioration in global credit markets.
07/07/08
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Lend Lease to build eco-friendly schools
Lend Lease Corporation Ltd has achieved financial close to build two eco-friendly schools in England, the company says.
Analysts slash GPT earnings outlook
GPT saw a further 11 per cent dive in its share price yesterday to its lowest level in its 37-year history, as brokers took the knife to the trust's earnings forecast for the...
07/08/08
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Australian merchant bank Babcock and Brown faces lenders
Babcock & Brown Ltd., Australia's second-largest merchant bank that last week lost half its market value, is accelerating an examination of its listed funds as it faces its bankers over a potential review of its 2.8 billion Australian dollars (US$2.7 billion) corporate debt facility.
Red Wings reward Babcock for winning Stanley Cup (AP)
AP - Mike Babcock's new contract allows the oldest of his three children to graduate from the same high school she's attending. And if all goes well with the Detroit Red Wings over the next three years, Babcock's younger two kids likely will get the same opportunity.
Rio Tinto ends Asian steel price talks
Rio Tinto has concluded price negotiations with its Asian customers for the steelmaking commodity.
Rio Tinto wins up to 97 percent rise...
Rio Tinto, the world's second-largest iron ore producer, secured price rises with its Asian customers of up to 96.5 percent for its ore this year, the miner said Tuesday.
Telstra gears up for ad blitzkrieg
TELSTRA'S outgoing brand chief and Sol Trujillo import, Bill Obermeier, will remain in Australia for at least two years to spearhead a "world leading" digital marketing venture...
Apple Hot News - Telstra and Apple to bring iPhone 3G...
MELBOURNE, Australia—30 June 2008—Telstra, Australia’s leading telecommunications and
information services company, and Apple today announced that the highly anticipated...
Babcock & Brown Financing Deal Stiffs...
The embattled Australian infrastructure investment firm comes to an agreement with creditors to pay higher interest rate in exchange for them dropping review of company's debt...
Babcock opens self-help books ahead...
BABCOCK & Brown Communities will look at all possibilities to push its ailing share price closer to its underlying asset value as part of a strategic review.
Woolworths shares dive to all-time low after warning of 'marked' downturn
Woolworths had a day to forget yesterday, when it posted a profit warning, revealed dire recent trading, and tore up plans to sell its £200m stake in DVD publisher 2 entertain.
Santos dodges takeover talk
Santos says it is in the early stages of considering "various strategic initiative", in response to a query from the Australian Securities Exchange (ASX).
Newcrest surges on energy supply deal
Newcrest says it has secured sufficient gas supplies to maintain full production at its flagship WA Telfer gold mine.
Telstra fires first shot at Canberra
There are signs the nasty days of brawling between Telstra and the Government may return.
Lend Lease revealed as BBC mystery buyer
Property giant Lend Lease Corp today revealed itself as the mystery buyer that seized a 6% stake in Babcock & Brown Communities (BBC).
Lend Lease stakes out Babcock arm
Property giant Lend Lease has revealed itself as the mystery buyer that seized a six per cent stake in Babcock & Brown Communities Group.
Fairfax discusses margin call risk
THE Fairfax Media board has discussed the implications of a margin loan over 159 million shares held by the director John B. Fairfax, but yesterday made no announcement to the...
China agrees to pay Rio Tinto nearly...
AFP - China's Baosteel said Tuesday it would nearly double the price it pays mining group Rio Tinto for iron ore, in a deal experts said underscored the Asian giant's lynchpin...
Babcock quiet on sell-off
Babcock & Brown has refused to confirm whether Goldman Sachs JBWere and Deutsche Bank have been named independent advisers.
Qantas flies around strife
QANTAS's share price fell to its lowest level in almost two years yesterday as a prolonged and bitter pay dispute continued to hurt the airline.